China’s CSI 300 leads gains in Asia-Pacific as Beijing urges institutional investors to buy stocks

Asia-Pacific markets traded mixed Thursday as investors assessed a slew of economic data in the region, with China stocks leading gains.

Hong Kong’s Hang Seng index rose 0.24%, while the CSI 300 climbed 1.01%. China’s financial regulators on Thursday urged large state-owned mutual funds and insurers to purchase more shares, as Beijing seeks to bolster its faltering stock market.

Australia’s S&P/ASX 200 traded 0.72% lower.

Japan’s Nikkei 225 rose 0.84%, while the Topix added 0.6%.

South Korea’s Kospi fell 0.78% and the Kosdaq traded 0.76% lower. South Korea’s economy expanded 1.2% year on year in the fourth quarter, marking its slowest expansion since the second quarter of 2023.

Singapore is expected to report its inflation numbers for December. The Bank of Japan is also holding its next policy meeting today and tomorrow, where the BOJ governor Kazuo Ueda had signaled intentions to hike rates.

Source: CNBC